Billionaire CEO of “Tesla” and founder of “SpaceX” Elon Musk acquires the “Twitter” platform, so what awaits this platform after it becomes his?
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What awaits the Twitter platform after becoming Elon Musk’s property?
After months of controversy, Elon Musk has become the head of one of the most influential social networks in the world, vowing to unleash his “enormous potential”. And what can we expect for the platform from the billionaire, Tesla CEO and founder of SpaceX?
new boss
One of Musk’s first decisions was to fire Twitter CEO Parag Agrawal, his chief financial officer Ned Segal and his chief legal officer, Vijaya Gadi, according to several US media, and now replacements will have to be found.
“Musk is in the unenviable position of having to convince veteran CEOs to work for him on a platform he has publicly belittled,” said Jasmine Enberg, an analyst at Insider Intelligence.
According to Bloomberg, Musk will personally take over as Twitter CEO, at least initially.
Musk will have to deal with anxious employees as he wants to reduce the workforce on the platform by 75% (equivalent to 5,500 employees), according to the “Washington Post”.
“Tensions dominate mood on Twitter as employees fear layoffs and there may be changes in product and even engineering teams,” said Enberg.
freedom of expression
Musk said he seeks to turn Twitter into a “friendly and welcoming” platform, not a “free hell for all,” criticizing what he sees as excessive content oversight, which he says leads to censorship of right-wing and far-right rumors. .
“The experts we spoke to indicated that around 600 people on Twitter itself and thousands more with third-party affiliations are working to moderate the platform’s content,” said Scott Kessler of Third Bridge.
“Musk has publicly argued that algorithmic solutions drive these processes rather than people.”
Musk hinted at the possibility of allowing the return of former US President Donald Trump, who was sacked from the podium after the attack on the Capitol in early 2021.
Unpleasant for advertisers
Another challenge for Elon Musk is improving Twitter’s financial position, which is facing slow growth and even posted a net loss in the second quarter of the year.
In April, Musk mentioned options for generating more revenue, such as increasing paid subscriptions, monetizing trending tweets, or paying creators.
In a message posted Thursday, Musk called on Twitter advertisers to work together to “build something great,” stressing the importance of allowing different views on the platform.
Susanna Streeter, senior investment and markets analyst at Hargreaves Lansdown, noted that “in his latest publicity stunt, Musk has indicated that he wants to do everything he can to attract new users.”
“But it will face the enormous challenge of maintaining and creating revenue in this global public arena that is not attractive to advertisers,” he added.
Some civil society groups are calling on big brands to use their influence to prevent Musk from providing a platform for more radical discourse.
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